cnolan

Maranon Capital provided debt financing and an equity co-investment to support the acquisition of Emergency Communications Network Inc. by The Riverside Co. Ormond Beach, Fla.-based Emergency Communications Network provides software-as-a-service products to allow state and county governments communicate warnings, information about natural disasters and other information.

Henry Kravis, the co-founder of buyout giant Kohlberg Kravis Roberts & Co., said that uncertainty in global markets had created enormous challenges and threats as financial firms, investors and governments face sovereign debt crisis and a slowdown in major economies, Reuters reported Wednesday. Speaking Wednesday, Kravis said that Europe remains the biggest concern for the firm, Reuters wrote.

Kesa, Europe's third-biggest electrical goods retailer, has become the second firm to announce a withdrawal from the cut-throat British market this week, agreeing to sell its loss-making British chain Comet for just 2 pounds ($3.20), Reuters reported. Hailey Holdings Ltd. and Hailey Acquisitions Ltd., entities advised by private equity firm OpCapita, are buying Comet.

As it moves away from healthcare investments, Scale Venture Partners has promoted Stacey Curry Bishop to managing director, the firm announced Tuesday. Scale Venture said that it will make no new healthcare investments in ScaleVP Fund III, and will put its full focus toward technology deals. Managing Directors Lou Bock and Mark Brooks, who have led the firm’s healthcare investing since 2000, will remain with ScaleVP to support their portfolio companies. Bishop joined ScaleVP in 1999 and focuses on SaaS and Internet investments.

Auditors of Australian television network Nine Entertainment Co. have warned that its owner, private equity firm CVC Asia Pacific, may be forced to sell assets to help service A$3.6 billion ($3.7 billion) in debt, Reuters reported, citing the Australian Financial Review. The newspaper reported that the accountants Ernst & Young said there were doubts about Nine's ability to continue as a going concern unless it was able to repay or renegotiate A$975 million of debt due in 2014, Reuters wrote.

Private equity firm TA Associates has completed its investment in Senior Whole Health, a Cambridge, Mass.-based health plan provider. Terms of the deal were not released. Formed in 2004, Senior Whole Health focuses on individuals who qualify for both Medicare and Medicaid.

Zynga Inc., the maker of Facebook games Farmville and Mafia Wars, is planning to go ahead with its initial public offering following the Thanksgiving holiday, Reuters reported, citing news from Bloomberg. Zynga had initially planned to price its IPO and have its shares trade the week before Nov. 24, two sources had said in October.

Sterling Financial Corp., which is backed by Warbug Pincus and Thomas H. Lee Partners, said Monday that it would buy First Independent Bank to boost its presence in Portland and Vancouver in the U.S. Pacific Northwest, Reuters reported. Under the terms of agreement, Sterling Savings Bank would initially pay a premium of $8 million to the net value of the acquired assets and assumed liabilities of the 100-year-old bank, Reuters wrote.

Cloud services and infrastructure technology company Virtustream has named Frank Vella as its chief operating officer. Vela joins from Quest Software, where he served as global vice president of Sales, Identity and Windows Management. Virtustream is backed by investors including Intel Capital, Columbia Capital, Noro-Moseley Partners and TDFunds. Virtustream is based in San Francisco.

RegionalCare Hospital Partners has completed its merger with Essent Healthcare. Terms of the deal were not released. The combined company, which operates under the RegionalCare name, now owns seven hospitals across six states. Essent is backed by Vestar Capital Partners and Cressey & Co.